Global Artificial Intelligence Chip Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
16 Mar, 2023
The global artificial intelligence chip market size grew from $15.65 billion in 2022 to $23.29 billion in 2023 at a compound annual growth rate (CAGR) of 48.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The artificial intelligence chip market size is expected to grow to $88.85 billion in 2027 at a CAGR of 39.8%.
Global Artificial Intelligence Chip Market Key Driver
An increase in demand for smart homes and smart cities is expected to propel the growth of the artificial intelligence chip market going forward. A "smart city" refers to a city that uses digital or information-communication technology to improve the comfort and efficiency of human life. One strategy for urbanisation that aims to achieve sustainable growth is making cities equipped with cutting-edge features for residents to live, walk, shop, and enjoy a safer and more convenient existence. For instance, in March 2022, according to an article shared by Arab News, a Middle East English-language daily newspaper, Saudi Arabia launched a new smart city project in Jeddah for light industries and auto repair, opening the first two stages of the city, the second of which is a 500,000 square metre labour city. A total of 5 million square metres is covered by the Smart City initiative.
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Global Artificial Intelligence Chip Market Segments
The global artificial intelligence chip market is segmented:
• By Chip Type: GPU, ASIC, FPGA, CPU, Other Chip Types
• By Processing Type: Edge, Cloud
• By Technology: System-On-Chip (SoC), System-In-Package (SIP), Multi-Chip Module, Other Technologies
• By Application: Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, Other Applications
• By Industry: Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, Other Industries
• By Geography: The regions covered in the artificial intelligence chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global artificial intelligence chip market.
Major Artificial Intelligence Chip Industry Players
Intel Corporation, Mediatek Inc., NVIDIA Corporation, Qualcomm Technologies Inc., Advanced Micro Devices Inc., Alphabet Inc
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Artificial Intelligence Chip Market Overview
Artificial intelligence chips are specific computer chips designed to achieve high efficiency and speed for computations related to AI at the expense of low efficiency and speed for other calculations and that is used for assisting clients in obtaining business insights at scale across banking, finance, trading, insurance applications, and client engagements.
Artificial Intelligence Chip Global Market Report 2023 provides data on the global artificial intelligence chip market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence chip market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.